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corporate tax reforms should pt affect the tax right? by the way, why haven't you talked more in your campaign about the 20% tax cut and the corporate tax cut from 35 to 25%. supply sides have been critical of you and your running mate because you seemed to have back add way from the tax issue which even president obama believes would have stimulate the economy. >> i'm sitting here debating an able congressman. but the fact is, that president ro romney's plan is out there for everyone to see. they are on the record and he will implement for the purpose of creating boe ining growth. it is because you are running to help everybody. everybody that needs to get a job and people are suffering out there. >> what besides taxes. >> what besides taxes? >> give me something else? >> the most important thing is to get the private sector something else. people are on the sls out there. you know what, people have an uncertainty and i don't think we can afford another four years of interrupted jobs. >> president, i'm going to give you the last word. j
corporate tax reforms should pt affect the tax right? by the way, why haven't you talked more in your campaign about the 20% tax cut and the corporate tax cut from 35 to 25%. supply sides have been critical of you and your running mate because you seemed to have back add way from the tax issue which even president obama believes would have stimulate the economy. >> i'm sitting here debating an able congressman. but the fact is, that president ro romney's plan is out there for everyone to...
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versus the capital gains tax. if the dividend tax becomes higher than the capital gains tax, it might pay to sell your stocks and get your income from selling 5% of the corpus of your portfolio as opposed to taking a 5% dividend. these are the type of issues i think people aren't really thinking about when it comes to the changes in the tax laws and what should we do. we're all just searching for income. it may be you want to take capital gains. >> i do think a lot of these questions are going to be head winds for the market. i think, you know, overall when you do have a lot of this uncertainty about how are my investments going to be treated, i think you can see a lot of people just start to pull money off the table, except maybe where you see companies that are actually showing some enthusiasm that we see a possible pattern. >> if i could point out the alternatives here, guys. we didn't talk about buying back stock. there's evidence that may be a very effective investment strategy as well. i know this has been a
versus the capital gains tax. if the dividend tax becomes higher than the capital gains tax, it might pay to sell your stocks and get your income from selling 5% of the corpus of your portfolio as opposed to taking a 5% dividend. these are the type of issues i think people aren't really thinking about when it comes to the changes in the tax laws and what should we do. we're all just searching for income. it may be you want to take capital gains. >> i do think a lot of these questions are...
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Oct 9, 2012
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it has to do with tax reform and corporate tax reform. romney has the better plan but eliminates the extra territorial nature of the tax code. i'm a big fan of that policpoli. >> you don't have to love romney to know he is going to strangle and love all businesses. the current president we don't know that. >> i'm saying a romney victory i'm going to come out and say it, will raise the animal spirits that will been down. the cash flow has been out there. it is the psychology that is going to improve. >> it is that and the gradual recovery of the economy. we have been seeing a pick up. housing has better than bottomed and the banks are getting healthier. cni loans are up 3.5%. that is a leading indicator for consumer lending and that is very powerful in terms of having new leadership and more money for these companies to spend here. >> last 25 seconds when do we beat the old highs of 07? >> november 7th. my gosh, energy stocks and health care stocks. thank you very much. wonderful stuff. coming up tonight, what does chuck schumer think he i
it has to do with tax reform and corporate tax reform. romney has the better plan but eliminates the extra territorial nature of the tax code. i'm a big fan of that policpoli. >> you don't have to love romney to know he is going to strangle and love all businesses. the current president we don't know that. >> i'm saying a romney victory i'm going to come out and say it, will raise the animal spirits that will been down. the cash flow has been out there. it is the psychology that is...
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oil, taxes, the markets? the real impact a change in momentum could mean for your money. >>> after its big drop, oil bouncing back. we're going to drill, baby drill, on the energy sector and find out why one analyst is still bullish and where he put his money to work, and yours, too. >>> and what's with all the hating on big bird? keep on plucking that chicken, says romney. join us at the top of the hour. we'll be right back. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> welcome back. what would a romney victory mean for the dollar? let's bring in andy bush, live from chicago. the dollar's weaker today, the stock market is higher
oil, taxes, the markets? the real impact a change in momentum could mean for your money. >>> after its big drop, oil bouncing back. we're going to drill, baby drill, on the energy sector and find out why one analyst is still bullish and where he put his money to work, and yours, too. >>> and what's with all the hating on big bird? keep on plucking that chicken, says romney. join us at the top of the hour. we'll be right back. one is for a clean, wedomestic energy future that...
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that debt forgiveness is tax free. again, thanks to congress passing a tax relief act on short sales back in 2007. a congressional committee estimates that will cost close to $1 billion in lost revenue to the government. now, given that relief and the fact that banks are really pushing these short sales and doing themselves, the question is, do we really need government to keep funding these short sales, maria? >> diana, these are the questions we'll keep following. thanks so much. they ask, should the government get out of the housing business altogether? rick santelli thinks so. jason says this isn't the time to kill these programs. rick, make the case. >> well, my case is why doesn't the government just buy them all, all the houses that are out there in foreclosure, vacant, bulldoze them down, give the tax bill to future generations, boom. housing fix. just because it's expedient doesn't mean it's the right thing to do. what, we're going to give them a break on their principle and their income tax? the government ne
that debt forgiveness is tax free. again, thanks to congress passing a tax relief act on short sales back in 2007. a congressional committee estimates that will cost close to $1 billion in lost revenue to the government. now, given that relief and the fact that banks are really pushing these short sales and doing themselves, the question is, do we really need government to keep funding these short sales, maria? >> diana, these are the questions we'll keep following. thanks so much. they...
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will need to pay more in taxes. that would be economic patri patriotism. it was a good day on wall treat. the dow jones still up 80 points today. finishing at 13575. and the s&p 500 tonight finishing at 1461 on the standard and poors at 500. thank you to larry fink. i'll see you tomorrow on the closing bell. have a great night. see you tomorrow. >> a
will need to pay more in taxes. that would be economic patri patriotism. it was a good day on wall treat. the dow jones still up 80 points today. finishing at 13575. and the s&p 500 tonight finishing at 1461 on the standard and poors at 500. thank you to larry fink. i'll see you tomorrow on the closing bell. have a great night. see you tomorrow. >> a
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and so scratch the average republican today, and he'll say, "tax cuts, tax cuts, tax cuts." >> cut taxes. >> cutting taxes. >> make the tax cuts permanent. >> it's rank demagoguery. we should call it for what it is. if these people were all put into a room on penalty of death to come up with how much they could cut, they couldn't come up with $50 billion when the problem is $1.3 trillion. so to stand before the public and rub raw this anti-tax sentiment, the republican party, as much as it pains me to say this, should be ashamed of themselves. >> this from ronald reagan's old budget director, architect of the largest tax cut in american history? but he doesn't let the democrats off the hook. he says he cringes when he hears the president say things like this. >> i believe we ought to make the tax cuts for the middle class permanent. >> we have now got both parties essentially telling a big lie, with a capital "b" and a capital "l," to the public, and that is that we can have all this government, 24% of g.d.p., this huge entitlement program, all of the bailouts, and yet we don't have to t
and so scratch the average republican today, and he'll say, "tax cuts, tax cuts, tax cuts." >> cut taxes. >> cutting taxes. >> make the tax cuts permanent. >> it's rank demagoguery. we should call it for what it is. if these people were all put into a room on penalty of death to come up with how much they could cut, they couldn't come up with $50 billion when the problem is $1.3 trillion. so to stand before the public and rub raw this anti-tax sentiment, the...
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Oct 4, 2012
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he has an entitlement reform plan, tax plan, corporate tax plan, energy plan, trade plan. the president doesn't. and i think it really showed. he imagined he was going to get through this race simply by disqualifying romney. they almost did it during the summer. they came this close. >> hold on a second. >> i want to ask you something. the whole debate last night was obama saying no to romney's agenda. we all learned romney's agenda. nobody learned obama's agenda. now he's going back to negativism. this is a huge mistake. let me tell you something else romney did to get reaction. your man obama is going to have so much trouble. romney said to 68 million viewers, i can make a deal. i can go across the aisle like i did in massachusetts. in fact he even said about his tax reform plan, if you don't like the specific version let's talk about some other options. but you, mr. president, you couldn't make a deal. you had a deal, you broke the deal with john boehner. that's what the woodward book is all about. in other words, this is something independents love. i say clinton democ
he has an entitlement reform plan, tax plan, corporate tax plan, energy plan, trade plan. the president doesn't. and i think it really showed. he imagined he was going to get through this race simply by disqualifying romney. they almost did it during the summer. they came this close. >> hold on a second. >> i want to ask you something. the whole debate last night was obama saying no to romney's agenda. we all learned romney's agenda. nobody learned obama's agenda. now he's going...
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siegel, that it is congress that sets tax policy in this country, do you really expect tax structure in this country change should governor romney win the election? >> i'm only listening to what president obama is saying, and that is raise the taxes on the wealthy. that's me and the other small business owners around the country. >> and that upsets you so much that you literally say i'm going to go sit on a beach, shut down the whole thing? connect those dots for me. taxes go up, and so -- >> you're taking things out of context. >> okay. >> you know, this is not speculation. i have lived the last four years under the obama administration, and i've watched my company be cut in half. today we're very profitable, and i don't want to go through another four years under the obama administration where i have to downsize again. >> you cut the company in half as a result of tax policy? is that what happened? >> no, it had nothing to do with tax policy. it had to do with the tightening of the banks. tightening of money. when they gave t.a.r.p. money to the banks, they should have told them to
siegel, that it is congress that sets tax policy in this country, do you really expect tax structure in this country change should governor romney win the election? >> i'm only listening to what president obama is saying, and that is raise the taxes on the wealthy. that's me and the other small business owners around the country. >> and that upsets you so much that you literally say i'm going to go sit on a beach, shut down the whole thing? connect those dots for me. taxes go up,...
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for the tax experts. that scares away small and larger size businesses from coming to california. >> absolutely. that was going to be my next question, to what degree are businesses slashing individuals leaving your state right now? >> we don't see a huge exodus but what we are concerned about is that businesses that are existing here in the state, they're growing elsewhere. we want those jobs, we want those sales activity, we want the research and development attached to that company happening here in california. >> let's bring madelyn in. >> in terms of the gas spike hurting small businesses, madelyn is the president and owner of marie's italian kitchen. which is a chain of ten italian restaurants throughout southern california. madelyn, i want to -- okay. i want to ask you first of all how the gas price spike is hurting the customers that come to your chain. >> well, we haven't really -- i don't think all of our kwus mers ha customers have been affected by it yet because many haven't gone to the pump t
for the tax experts. that scares away small and larger size businesses from coming to california. >> absolutely. that was going to be my next question, to what degree are businesses slashing individuals leaving your state right now? >> we don't see a huge exodus but what we are concerned about is that businesses that are existing here in the state, they're growing elsewhere. we want those jobs, we want those sales activity, we want the research and development attached to that...
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Oct 3, 2012
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get the tax cuts out there. i want the tax cuts. >> we were just talking to john taylor. i asked whether or not he believed romney was being specific enough about the economic plan because thought is the knock he has been getting and professor taylor said he has been extremely specific. do you think this campaign can gain traction and win this thing if they believe they are specific enough with their plans. >> john taylor is a great american and one of my heroes and mentors. i don't think they are quite as specific as they could. you know how to sell something. you want to sell something. if one of your great panelists has a stock or a position or an idea you got to sell it. not just once. you don't whisper it. covering several shows. you have to sell the thing. second point talk about middle class take home pay going up. joe biden was up. the middle class income has been buried. and third here is the tricky point. i don't want to see the tax deductions taken away from the middle class. i want it removed for the upper income people because they are going for 35 to 28%. th
get the tax cuts out there. i want the tax cuts. >> we were just talking to john taylor. i asked whether or not he believed romney was being specific enough about the economic plan because thought is the knock he has been getting and professor taylor said he has been extremely specific. do you think this campaign can gain traction and win this thing if they believe they are specific enough with their plans. >> john taylor is a great american and one of my heroes and mentors. i don't...
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, an efficient tax system. it's a far more efficient tax system. so it gets the huge waste in churn, i call fixing costs in our society from a bad tax system, a polluted legal system, uncertainty around things. so, yeah, i think you would have had better growth. and i think it was 4 for 1 or whatever it was. but close enough would have been good enough. doesn't have to be exactly right. if it gets growth going again, remember, growth will pay for a lot once we have growth starting again. >> let's talk about growth. the united states is -- has been now for several years growing at roughly half, what you might call the modern historic rate of economic growth. instead of growing in the mid threes, growing in fiscal '02, giver or take. if you were in a position to more broadly make the case publicly. here are the things we ought to do in order to generate double the rate of economic growth at 3.5%. one would be a comprehensive budget deal like you just mentioned. what else would be on jamie dimon's list? >> let me
, an efficient tax system. it's a far more efficient tax system. so it gets the huge waste in churn, i call fixing costs in our society from a bad tax system, a polluted legal system, uncertainty around things. so, yeah, i think you would have had better growth. and i think it was 4 for 1 or whatever it was. but close enough would have been good enough. doesn't have to be exactly right. if it gets growth going again, remember, growth will pay for a lot once we have growth starting again....
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there are other things, marketing, taxes, things like that. we don't know the cause but we know one thing, the oil companies fully integrated make more money when the price of gasoline is higher. so, it's certainly more than coincidental that the price of gasoline stays higher longer than the price of oil. there's no evidence to show that there's something -- that there's a legitimate effort by oil companies to keep gasoline prices higher. it is certainly suspicious and certainly profitable for the oil companies. >> sterling, what's going to get gas prices down? that's all people care about. they keep hearing oil prices are going down, yet they drive to the pump and pay $4.50 or $5 a gallon? >> well, you can work three end of it. you can work it, supply. you can work on demand. and we're doing both of those. and you can work it volatility, which is a huge, huge factor. as i said, gas -- most of the retailers in my area are independent retailers. they don't lock in long-term or can't lock in long-term oil/gasoline contracts. >> but how much --
there are other things, marketing, taxes, things like that. we don't know the cause but we know one thing, the oil companies fully integrated make more money when the price of gasoline is higher. so, it's certainly more than coincidental that the price of gasoline stays higher longer than the price of oil. there's no evidence to show that there's something -- that there's a legitimate effort by oil companies to keep gasoline prices higher. it is certainly suspicious and certainly profitable for...
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your man's the only guy who thinks tax reform means higher tax rates. you're the only one. >> can i please respond here? >> i want you to. >> in every single budget he has produced, there has been a cap on itemized deductions for people above $250,000. they can only deduct the 28%, not 35% or 39%. and it raises half a trillion dollars over ten years. it's in every one of his budgets. please don't tell me it's not. i can show you where it is. >> arthur laffer, explain this to me. >> the key here is lowering rates. jared, i do agree with you, we need to raise taxes. but we don't need to raise tax rates. what we need to do is increase growth output employment and get -- you can't balance the budget on the backs of the unemployed. it just doesn't happen. >> i agree. art, you are 100% right. and by the way, i'm not where you guys are on the lower -- >> you will be with us soon, jared. >> you're elasticties for your tax rate declines are way too large, in my humble opinion. but i'm ready to go with you if you can identify how you're going to fill that hole. m
your man's the only guy who thinks tax reform means higher tax rates. you're the only one. >> can i please respond here? >> i want you to. >> in every single budget he has produced, there has been a cap on itemized deductions for people above $250,000. they can only deduct the 28%, not 35% or 39%. and it raises half a trillion dollars over ten years. it's in every one of his budgets. please don't tell me it's not. i can show you where it is. >> arthur laffer, explain...
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the tax breaks are amazing. the question everyone will be asking -- do billionaires pay $90 million for an apartment really need a tax break? a tax break aimed at low income folks? we'll dive into that issue next on "power lunch." [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. w
the tax breaks are amazing. the question everyone will be asking -- do billionaires pay $90 million for an apartment really need a tax break? a tax break aimed at low income folks? we'll dive into that issue next on "power lunch." [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade....
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>> you get rid of obama care and 3.8% tax on investment income and get the tax on medical device makers, larry. >> i will bet you $20 right now. i'll make a romney $10,000 bet that obama care is not repealed. >> i'll bet you it will be repealed, but i'll buy a gift for your new daughter. >> thank you. >> if romney wins, which was not expected a week ago but is now more expected, if he wins what is the stock market impact? is it greater than earnings and the federal reserve? how do you assess a romney victory? >> what becomes important is the effect on capital gains and dividend taxes. we as investors view asset investments on an after-tax basis. they make those particular investments more attractive, and we saw this with respect to to t cool stocks. >> the average small business has 2.5 employees, the average is over 5. small businesses get a boom in that. >> i don't disagree with what you're saying but i focus on the tax policy. >> they'll go sky high if romney loses and skier higher because of obama care. >> that said, just to repeat, i disagree. >> all detriments to growth. >> detrim
>> you get rid of obama care and 3.8% tax on investment income and get the tax on medical device makers, larry. >> i will bet you $20 right now. i'll make a romney $10,000 bet that obama care is not repealed. >> i'll bet you it will be repealed, but i'll buy a gift for your new daughter. >> thank you. >> if romney wins, which was not expected a week ago but is now more expected, if he wins what is the stock market impact? is it greater than earnings and the federal...
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Oct 3, 2012
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they are focused on new tax, on capital gains basically, wants the capital gain to be taxed at the same level as salaries and that's the problem for young entrepreneurs because when you create a small company, you don't pay yourself a huge salary, and the only way to make money out of it, to be rewarded for your hard work is to resale your company some years later, if it's successful, of course. and in that case, if you sell your internet company for perhaps ten million euros, you will have to pay up to 60% in taxes. that's their own calculations. that's to compare with 32% right now. that's the reason why they've created this movement on the internet. 23,000 fans on facebook, more than 5,000 followers on twitter. i'm not sure they're going to convince the government, but at least they managed to put the debate on the table. >> thank you very much. >>> elsewhere, ag bar has been ground an extension on their major talks. the u.s. takeover panel has given the two companies until the end of the month to decide on a potential 1.3 billion pound tie-up. meanwhile, another deadline also looms
they are focused on new tax, on capital gains basically, wants the capital gain to be taxed at the same level as salaries and that's the problem for young entrepreneurs because when you create a small company, you don't pay yourself a huge salary, and the only way to make money out of it, to be rewarded for your hard work is to resale your company some years later, if it's successful, of course. and in that case, if you sell your internet company for perhaps ten million euros, you will have to...
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> it is time. it is time for the "lightning round." on cramer's you say the name -- >> buy, buy, buy! >> sell, sell, sell! >> when i play this sound -- [ buzzer ] >> -- and then the "lightning round" is over. are you ready, skee-daddy? let's start with dave in michigan. dave? >> caller: hey, jim, big detroit tiger boo-yah to you. >> nice. good luck. what is up? >> caller: hey, jim, agnc. i've got it in my retirement fund, and it's been dropping like a rock. and they're saying it's because of qe3. what do you think? >> look, there are issues involving the fact that these particular mortgage real estate investment trusts should not do as well in this particular environment. i think the yield, i think the dividend could go down a little, i don't know. to me, this one and anna lee, they have navigated almost e
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> it is time. it is time for the "lightning round." on cramer's you say the name -- >> buy, buy, buy! >> sell, sell, sell! >> when i play this sound -- [ buzzer ] >> -- and...
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federal income tax, state taels tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent business has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions. lower deductions and exemptions to create more jobs. because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the mos effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion just to give you a sense over ten years that's more than our entire defense budget. and you think that by closing loopholes and deductions for the well to do somehow you will not end up picking up the ta
federal income tax, state taels tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent business has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions. lower deductions and exemptions to create more jobs. because there's nothing better for getting us to a balanced...
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is this a buy and do you think the mlp distributions will be taxed as c corp distributions if the tax credits expire in 2013? >> i'm going to take them backwards. i think the tax credit is going to be fine. enterprise partners is terrific. and i'm torn playing hernandez. who i think could play this weekend or sticking with daniels got me points in the fantasy league. let's go to vince in california. vince? >> caller: boo-yah, cramer. >> boo-yah. >> caller: talk to me about uhn? this is a king of prussia company. i used to beat them consistently. i've got to tell you, i believe in this company. i think it's one of the best. i also want to reiterate that i think that the health care reits represent the best value right now in the real estate investment trust group. may i just mention one second, which bought sunrise cheaper living? i think that stock is still cheap at at. at. $59. i want to go to jack in pennsylvania. jack? >> caller: good afternoon, jim. this is jack from bucks county, pennsylvania, calling. i'm interested in wprt, westport innovations. i bought it maybe six months ago
is this a buy and do you think the mlp distributions will be taxed as c corp distributions if the tax credits expire in 2013? >> i'm going to take them backwards. i think the tax credit is going to be fine. enterprise partners is terrific. and i'm torn playing hernandez. who i think could play this weekend or sticking with daniels got me points in the fantasy league. let's go to vince in california. vince? >> caller: boo-yah, cramer. >> boo-yah. >> caller: talk to me...
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and so, of course he's in favor of higher taxes. yesterday the vice president blurted out the truth. he said in fact they do want to raise taxes a trillion dollars. i don't want to raise tax on any americans because i want to create good jobs in america. now, i take america in a very different direction. first of all i want to make sure that our policies encourage job growth and i have five things i'll do, you've heard me describe them time and again. but five things i'll do that will get jobs growing in this country again and growing right here in this part of virginia as well because number one on my list is to take full advantage of all our energy resources, our oil, coal, gas, our nuclear, our renewables. and i know you care a lot more about coal than the other ones i mention sod let me remind you that when the president was running for office, he said that if you built a new coal fire plant why you go bankrupt. and the head of the epa has also said that the regulations on burning coal are now so stringent it's virtually impossi
and so, of course he's in favor of higher taxes. yesterday the vice president blurted out the truth. he said in fact they do want to raise taxes a trillion dollars. i don't want to raise tax on any americans because i want to create good jobs in america. now, i take america in a very different direction. first of all i want to make sure that our policies encourage job growth and i have five things i'll do, you've heard me describe them time and again. but five things i'll do that will get jobs...
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overhaul of the tax system. so the answer is some of everything. so the ways to do it could choke off economic recovery, but there are ways to do it that are smart that would help promote economic growth. the first step is not to go off the fiscal cliff, but also not to punt. instead replace that with the beginning of a sensible plan. we'll need to save $4 trillion to $5 trillion over the next part of of the year and we need to look at every part of the budget to do that. >> to not go off the cliff at the end of the year, what are the chances that after the election you tilly get some kind of agreement sni? i was speaking to john mccain and he said don't expect noticing happen. you seem to think something can happen. why? >> i wake up pretty much every day and i update my probabilities on how likely that we'll go off the cliff. and i think that we won't. it's unmachblgable that this country as partisan as things are that policymakers wouldn't be able to come to some kind of an agreement to avoid knowingly lettin
overhaul of the tax system. so the answer is some of everything. so the ways to do it could choke off economic recovery, but there are ways to do it that are smart that would help promote economic growth. the first step is not to go off the fiscal cliff, but also not to punt. instead replace that with the beginning of a sensible plan. we'll need to save $4 trillion to $5 trillion over the next part of of the year and we need to look at every part of the budget to do that. >> to not go off...
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. >> there fore, a willingness to for example, allow taxes to rise to do a deal? >> maybe -- yeah, exactly. maybe a little bit more willingness to do a deal, more awareness of the real world financial market implication of what they are talking about barack obama might be in a dealmaking, he is thinking about his legacy and kick off his second term. >> hope they do a deal eamon, thank you very much. >>> you might think silicon valley is thousands of miles away from the political action in d.c. but new technology and new companies are having a big impact on this year's political races. cnbc's julia bore citizen joins wuss a look at what they are doing and how they are trying to, julia to cash in. over to you. >> well, simon, some of facebook's biggest backers, sean parker, ben who are wits and peter thiel are betting that it can change politics the way facebook changes the people interact. who a horowitz and packer are on a board of a company that sell seles communication via e-mail . >> general purpose, prime-time software product and deliver at this to the market
. >> there fore, a willingness to for example, allow taxes to rise to do a deal? >> maybe -- yeah, exactly. maybe a little bit more willingness to do a deal, more awareness of the real world financial market implication of what they are talking about barack obama might be in a dealmaking, he is thinking about his legacy and kick off his second term. >> hope they do a deal eamon, thank you very much. >>> you might think silicon valley is thousands of miles away from...
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it now takes in more gambling tax money than nevada. indiana, new york and louisiana all rake in more than half a billion a year. nationally kw lly gambling is $ billion a year in revenues but 8 $8 billion in taxes. took 3,500 construction workers to build this place. 2,000 casino workers staff it. obviously it is a big deal in terms of job creation. now there are indirect jobs, too, expected to be built around this facility because they want to build up the area. now the biggest question is supply/demand. new jersey's been absolutely cannibalized by what they've added in mad added in pennsylvania. next spring they'll open their fourth casino. eventually they'll open one of these things and it is not going to do well, but right now there is a demand for it. >> it is definitely hopping there. brian schactman, have a good time. spend some money. >>> so are casinos a good bet for a community? for your community perhaps? joining us, jim rubens, chair of the granite state coalition against expanding gambling. on the cnbc news line, judy patt
it now takes in more gambling tax money than nevada. indiana, new york and louisiana all rake in more than half a billion a year. nationally kw lly gambling is $ billion a year in revenues but 8 $8 billion in taxes. took 3,500 construction workers to build this place. 2,000 casino workers staff it. obviously it is a big deal in terms of job creation. now there are indirect jobs, too, expected to be built around this facility because they want to build up the area. now the biggest question is...
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in terms of the weight in tax cuts, warnings coming from hp and informatica. dell among those tech stocks hitting a 52-week low but dell has bounced at this hour. biotech continues very strong movement continuing to move higher. amgen, all-time highs today after a little bit of profit taking. >> thank you very much, bertha. >>> rick santelli is tracking action at the cme. >> hi, sue. you talk about compression, you talk about squeezing the spring. look at the 24-hour charted 10 47b year no year note. this looks to be the eighth -- eighth -- session we're going to settle in a tight range between a $1.61 and a 1.66% yield. look at the bund. similarly affected by the draghi press conference and this could be the seventh day -- get this, the seventh day bund yields close between 1.44%. actually it is closed. between 1.44% and 1.46%. we're talking two basis points. you can see what the euro thought. it is getting ready for that bazooka to get fired. if you look at dollar, it is down against every major currency. remember yesterday we talked about selling the dollar
in terms of the weight in tax cuts, warnings coming from hp and informatica. dell among those tech stocks hitting a 52-week low but dell has bounced at this hour. biotech continues very strong movement continuing to move higher. amgen, all-time highs today after a little bit of profit taking. >> thank you very much, bertha. >>> rick santelli is tracking action at the cme. >> hi, sue. you talk about compression, you talk about squeezing the spring. look at the 24-hour...
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you'll obviously have to pay your taxes and fees which as we well know, sometimes can be more in total than the price of the ticket itself by the time you pay maybe $100 at the gate for checking in your bag, plus various other things like a sandwich. >> is that vote for people you don't want to win? because if your candidate loses -- >> if the other guy wins -- if i'm a huge obama supporter, romney wins, i might be eligible to -- >> i think at the end of the day, it is supposed to be fun. >> let me correct you. there is nothing about flying that is fun especially when you're over 5'0" tall. or $6 6'0". >>> pretty remarkable run in the home builder stocks today, mandy. "wall street journal" article discussing the dampened momentum in the apartment rental market may be partly a function of the rebound that we're seeing in housing demands. that's the silver lining to the story. take a look at some of those home builder stocks moving higher today. >> cool. seema, thank you. >>> we've got a great feel-good story about a guy's amazing second chance in the show. that's coming up next in the s
you'll obviously have to pay your taxes and fees which as we well know, sometimes can be more in total than the price of the ticket itself by the time you pay maybe $100 at the gate for checking in your bag, plus various other things like a sandwich. >> is that vote for people you don't want to win? because if your candidate loses -- >> if the other guy wins -- if i'm a huge obama supporter, romney wins, i might be eligible to -- >> i think at the end of the day, it is...
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among the topics that generated the most heat, taxes. >> i don't have a $5 trillion tax cut. i don't have a tax cut of the scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. but i'm not going to reduce the share of taxes paid by high income people. high income people are doing just fine in this economy. they'll do fine whether you're president or i am. the people having the hard time are middle income americans. under the president's policy, middle income americans have been buried. they're being crushed. >> for 18 months he's been running on this tax plan. and now five weeks before the election he's saying that his big bold idea is never mind. and the fact is that if you are lowering the rates the way you describe, governor, then it is not possible to come up with enough deductions and loopholes that only affect high income individuals to avoid either raising the definite it or burdeneni ing the middle class. it's hamath. >> another hot topic, the deficit. >> it's now four years later, we still have trillion dollar
among the topics that generated the most heat, taxes. >> i don't have a $5 trillion tax cut. i don't have a tax cut of the scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. but i'm not going to reduce the share of taxes paid by high income people. high income people are doing just fine in this economy. they'll do fine whether you're president or i am. the people having the hard time are middle income americans. under the...
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netting $4.2 billion in cash after taxes and fees. and even better, yahoo! will return about 85% of the cash to you, shareholders. we're either looking at a huge dividend or a gigantic buy back. it would shrink the cap by 19%. that's what makes the stock go higher, not the buy back stock, come out flat. now remember after this transaction yahoo! still owns 20% of ali baba. yahoo! can sell half of the stake at the time when ali baba comes public whenever that might be. how much is it worth? goldman values yahoo!'s remaining ali baba position at $5.8 billion or $4.93 a share. i think that could be a low ball figure given ali baba's legitimate internet growth story. even though they pulled back from the highs it still made people a fortune since it came public in 2005. second, there's yahoo! japan which is a separate company publicly traded on the japanese market. yahoo! owns 35% of this monster and the stake is worth $4.77 billion. that's another $4.03 a share. then we've got the cash itself. by the end of the year goldman expects yahoo! will have $5.84 of cas
netting $4.2 billion in cash after taxes and fees. and even better, yahoo! will return about 85% of the cash to you, shareholders. we're either looking at a huge dividend or a gigantic buy back. it would shrink the cap by 19%. that's what makes the stock go higher, not the buy back stock, come out flat. now remember after this transaction yahoo! still owns 20% of ali baba. yahoo! can sell half of the stake at the time when ali baba comes public whenever that might be. how much is it worth?...
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because it would be tax free. and then secondly do you back yourself as an employee to say i'm never going to -- i can always get a job somewhere else. >> would you take the shares or the protection? >> if i believed in the business i was working in and i thought that it was -- yeah, i'd take the shares. >> well, i do want to know what you would think about this. what would you take? >> i work for a very good corporate bank and i would definitely take the shares. the problem with the proposal is it sounds like it's most relevant for employees in really big corporates. >> yeah, how many people are that. >> and if you're looking at small companies or start ups, how relevant would that be. >> right. we'll take a short break. we'd love to know your thoughts. also still 20 come, how legitimate are security worries over the telecom womequipment maker. >>> congressional report has called on u.s. firms to stop doing business with zte and wow way. the report was centered on allegations that the two countries are under beij
because it would be tax free. and then secondly do you back yourself as an employee to say i'm never going to -- i can always get a job somewhere else. >> would you take the shares or the protection? >> if i believed in the business i was working in and i thought that it was -- yeah, i'd take the shares. >> well, i do want to know what you would think about this. what would you take? >> i work for a very good corporate bank and i would definitely take the shares. the...
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tax cuts. does he have to get specific? >> i think lara will ask that. >> he's got to do well. he's got to show well in this. i don't think ratcheting up expectation is good. i think what you want to do if you're getting ready for the debate is ratchet down expectation. i think he'll do fine. he needs to have a knockout. it doesn't need to be a decision. it needs to be a ko. >> how much of this debate is going to be about the economy and jobs and taxes tonight as opposed to education, health care, social issues, what have you? >> well, all those things matter, certainly when it comes to education, that's the future. i mean, the future generations will be -- will fail, rise, or fall based on education, so that's a very important building block for the country going forward. >> is that a building block for romney's campaign? >> it is. it's something he's talked about. he has an idea for americans and education that's very different from what president obama has been able to do. president obama wo
tax cuts. does he have to get specific? >> i think lara will ask that. >> he's got to do well. he's got to show well in this. i don't think ratcheting up expectation is good. i think what you want to do if you're getting ready for the debate is ratchet down expectation. i think he'll do fine. he needs to have a knockout. it doesn't need to be a decision. it needs to be a ko. >> how much of this debate is going to be about the economy and jobs and taxes tonight as opposed to...
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taxes going up? >> no, i think there are -- i think they -- if they done go up in moderation that capital formation in the united states will change dramatically. >> it could be hurt if it goes up too much? >> well, that's why i was referring to the column because andrew wrote a column in which he was very insightful about the fact that, you know, it's a good time to buy high-end real estate in paris because everybody who lives there is running out the door. >> right. >> and by the way, there are implications in turn in the united states about the way this construct is going. because if you think about it for a minute, high tax states like new york, new jersey, connecticut, that's a lifestyle choice. >> right. people can like europe and say i'm going to london, i'm not paying these things, people can come and move out of new york. >> go to a different state. >> u.s. versus the rest of the world statement. i got a number of e-mails that said, and i think i mentioned in the column, if you move to paris
taxes going up? >> no, i think there are -- i think they -- if they done go up in moderation that capital formation in the united states will change dramatically. >> it could be hurt if it goes up too much? >> well, that's why i was referring to the column because andrew wrote a column in which he was very insightful about the fact that, you know, it's a good time to buy high-end real estate in paris because everybody who lives there is running out the door. >> right....
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the events triggered by inaction rather not renewal of the bush tax cuts or reduction in spending it is a variety of things. >> thanks for that fascinating report. when you stress test your portfolio what is a scenario that you are most concerned about? >> the scenario is about improving economic growth. that is the one thing that nobody is testing for. that is a risk. upside. absolutely. that is a risk. if it is a risk that you can test for and you know about it how is it a risk? if there is a bubble out there in this market is the bubble that everything is going to fall apart. if every bank knows all the scenarios they should never lose money again. >> you ask about testing several things. what about when you throw in every bank going through the same crisis at the same time. >> if one bank has that problem -- >> i could never. >>> coming up next one of our traders is going to fuel your portfolio. stick around for the trade of the day right after this break. >>> welcome back to fast. we are live in times square. we have an update on verifone. you have been short. >> i continue to b
the events triggered by inaction rather not renewal of the bush tax cuts or reduction in spending it is a variety of things. >> thanks for that fascinating report. when you stress test your portfolio what is a scenario that you are most concerned about? >> the scenario is about improving economic growth. that is the one thing that nobody is testing for. that is a risk. upside. absolutely. that is a risk. if it is a risk that you can test for and you know about it how is it a risk?...
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reason why is easy -- jobs and its taxes. but when you saw these doors open earlier today, thousands of people streamed in within minutes. obviously there is a lot of demand of what's going on here. they're here for one thing and one thing only -- that's to gamble. one-third of all the money made to penn national gaming goes back to the state and city in taxes. the city of columbus expects to get at least $15 million directly next year and that will go a long way. of course, interestingly when you spoke to t i spoke to the city's mayor today, he was just as focused on job creation. the city needed 3,500 workers to build it and 2,000 employees . >> the more jobs you have in a community, the more income there is to the city. >> ohio's considered a swing state. right? but unemployment here has been running well below the national average. we look at a few dealers doing their thing here. been below the national average for a while. looks like today a lot of people played hookie. at least 5,000 people have been here. there are a f
reason why is easy -- jobs and its taxes. but when you saw these doors open earlier today, thousands of people streamed in within minutes. obviously there is a lot of demand of what's going on here. they're here for one thing and one thing only -- that's to gamble. one-third of all the money made to penn national gaming goes back to the state and city in taxes. the city of columbus expects to get at least $15 million directly next year and that will go a long way. of course, interestingly when...
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our borrowing is going up, our deficit is going up because you've not got people at work paying tax. so there's been a right of myth for two years the only way to get the deficit down is through spending cuts and tax riders. the faster you go, the better. it's not worked in britain. and i'm afraid we're making a 1930 mistake all over again. >> it's easy their position to say this plan's not working, but the coalition with the conservative party with the junior partner very much sticking to plan a even these in some circles particularly in labor circles it's not proven to be particularly popular. and i think they'll try to play up his working class credentials because the leading conservative party very much has this posh boy image. lots of educated members of the cabinet. it's pretty hard for the average working class britt to at that time message from someone they perceive to be wealthy independently. >> not that they're putting necessarily any -- the thing is, you're 2, 2 1/2 years on out from an election, so in need for any policies. >> no, for quite some time. and the conservativ
our borrowing is going up, our deficit is going up because you've not got people at work paying tax. so there's been a right of myth for two years the only way to get the deficit down is through spending cuts and tax riders. the faster you go, the better. it's not worked in britain. and i'm afraid we're making a 1930 mistake all over again. >> it's easy their position to say this plan's not working, but the coalition with the conservative party with the junior partner very much sticking...
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it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ >>> it is time. it is time for the lightning round. we play until we hear the sound and the lightning round is over. are you ready, skedaddy? start with rob in new york. >> caller: how you doing, jim. my question about sketchers? >> sell, sell, sell. it's sink'ing like a stone. i don't want skechers or deckers. > >>>. >> ken in california, what's up? >> caller: thank you for your help and guidance. love your show. jim, a vnbbott labs, is it overbought at this point? >> we were discussing this, i say you can't buy it here, steph. have to let it pull back. let it pull back to the mid 60s, but it is going to split. a great situation, but you're paying up too much right here. fred in new york. fred. >> caller: fred in new york, booyah. cypress semiconductor? >> oh, fred. we can say the same thing about intel. intel yields 4%. i see no reason to own cypress. i want to see the quarter. not a
it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ >>> it is time. it is time for the lightning round. we play until we hear the sound and the lightning round is over. are you ready, skedaddy? start with rob in new york. >> caller: how you doing, jim. my question about sketchers? >> sell, sell, sell. it's sink'ing like a...
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gains taxes. >> if there ever was any. >> people are furious. all of the wealthy executives petitioned for higher taxes and said please, it was warren buffett like in some ways, we deserve to pay higher taxes, we get it, want to do it and they're freaking out, real estate prices are plunging. >> what did they expect taxes were going to go -- >> their highest marginal rate was 41%, they thought maybe it goes to 45, 50, 55. >> went to 75. >> but it's the capital gains which is killing people. if you're an entrepreneur you're not starting your company there and they're already starting to backtrack on that and the other piece of it is hollande's administration -- >> starting to backtrack. >> 75% is just for two years or they say just for two years. perhaps the more interesting story though this morning -- >> instead of the bush tax cuts. >> swan vomit lake, that is what lady gaga is calling it, this is sort of gross. ♪ people are eating their breakfast now. do not look, if you want to look, see it on the internet yourself but we're not going to s
gains taxes. >> if there ever was any. >> people are furious. all of the wealthy executives petitioned for higher taxes and said please, it was warren buffett like in some ways, we deserve to pay higher taxes, we get it, want to do it and they're freaking out, real estate prices are plunging. >> what did they expect taxes were going to go -- >> their highest marginal rate was 41%, they thought maybe it goes to 45, 50, 55. >> went to 75. >> but it's the...
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, zero tax returns i think. what did you find out, anything? >> billion in a prior story, not this story, when we looked at earmarks we did find earmarks that was very close to his undeveloped property. >> right, i saw a nice deal here on a land deal in 1998, 700 grand. anyway, just wondered. >> right, exactly. we have a whole host of stories that we've done that look more at this intersection between their duties and their personal assets and that's -- >> that's the best way, not with a couple of, you know, stock tips in congress. i like it ben they do the earmarks, where they buy something and then maybe check the former speaker, too. anyway, right? kimberly, thank you. appreciate it. >> thank you very much for having me. >> all right, see you. >>> oh, it's me. coming up, this morning's top stories set to foreboding music. the rails for the white house, both hitting the campaign trail. former governors face off in the issues and former hp boss carly fiorina, why she calls the board a serial dysfunction, and no
, zero tax returns i think. what did you find out, anything? >> billion in a prior story, not this story, when we looked at earmarks we did find earmarks that was very close to his undeveloped property. >> right, i saw a nice deal here on a land deal in 1998, 700 grand. anyway, just wondered. >> right, exactly. we have a whole host of stories that we've done that look more at this intersection between their duties and their personal assets and that's -- >> that's the...
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welfare system to make sure this country continues to live within its means and at the same time has a tax system that attracts international businesses to britain p. and one of the encouraging stories is 20 of the largest companies are moving some of their head quarters to the uk. >> but low yields aren't giving us growth. >> all western countries are facing the issue of how they pay their way in the world and how they grow. if you look at the uk, a million jobs in the private sector over the last couple of years and we'll go on making reforms to our tax system to make this the competitive place to come and do business. >> meanwhile britain's largest businesses are adopting more defensive strategies. this is one of the latest findings of the deloitte cfo service. they were asked what their views are on the current operating environment. joining us with more, chief economist at deloitte. good to see you. i suppose we had a record second quarter of declines. >> confidence went through the floor back in june on the result of what's going on in the euro area. you've seen a bit of a bounce. ri
welfare system to make sure this country continues to live within its means and at the same time has a tax system that attracts international businesses to britain p. and one of the encouraging stories is 20 of the largest companies are moving some of their head quarters to the uk. >> but low yields aren't giving us growth. >> all western countries are facing the issue of how they pay their way in the world and how they grow. if you look at the uk, a million jobs in the private...
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part of this is an exponentially higher tax rate. but former governor ed rendell justifies all of it. >> we love to gamble, we love to bet. ed rendell can't stop it. barack obama can't stop it. mitt romney can't stop it. so if we can't stop it, let's make the best of it, make sure it's regulated well, make sure it's taxed robustly and make sure those dollars go to a good purpose. >> reporter: initially that 55% tax rate in pennsylvania was to go to give property tax relief for senior citizens, great political move for rendell. here in ohio, a chunk will go to the host city, columbus, ohio. a chunk goes to the state and there are slices that go to every county in ohio. it's obviously going to mean millions in taxes for the state of ohio. another one opens in cincinnati, carl, next spring. back to you. >> judging from the fact that it's probably 9:30 there in the morning -- i don't know if you're east coast. but behind you, brian, people are already lining up. you can see revenue being generated right there. >> reporter: they expect --
part of this is an exponentially higher tax rate. but former governor ed rendell justifies all of it. >> we love to gamble, we love to bet. ed rendell can't stop it. barack obama can't stop it. mitt romney can't stop it. so if we can't stop it, let's make the best of it, make sure it's regulated well, make sure it's taxed robustly and make sure those dollars go to a good purpose. >> reporter: initially that 55% tax rate in pennsylvania was to go to give property tax relief for...
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what do the candidates need to to do and what would a $17,000 tax deduction limit mean for you, for voters. and where to find the bargains, yes, bargains in the private skret mjet market. it's at the top of the hour. >>> the barefoot economic summit is under way. some of the world's top asset managers and investors convening. david faber is there and joins us now with another exclusive interview. a beautiful backdrop, david. >> $6 billion long short equity hedge fund. but like a the lot of the participants, we'll start out on the macro. >> sure. >> you have been watching the velocity of money. maybe something people go what are you talking about. but we know the fed is printing a lot of money. the question is it actually changing hands. >> right. did anything show up in your bank account? >> notrecently. >> mine neither. i mean, it's -- what i think is happening in the economy is that we're going through a deleveraging process. if you look at the velocity of money, you see that the chart looks like we're still in recession. it was -- there was a blip up in '09 as qe1 sort of had some impac
what do the candidates need to to do and what would a $17,000 tax deduction limit mean for you, for voters. and where to find the bargains, yes, bargains in the private skret mjet market. it's at the top of the hour. >>> the barefoot economic summit is under way. some of the world's top asset managers and investors convening. david faber is there and joins us now with another exclusive interview. a beautiful backdrop, david. >> $6 billion long short equity hedge fund. but like a...
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it is taxing or legislating against the stuff that has absolutely no benefit to anyone and so cancel voters is a good example. i think the point that ms. godfrey made about intent is the point. >> there is no intent to trade stocks at 4% of the entire trading volume and last week not a single trade was executed. >> i agree. >> one thing about this and i think our guests will confirm this, there are only a certain number of algorithms in the world. i think you agree most are similar in intent, basically designed to scalp pennies in microseconds. there are only so many different kinds. i don't know if that's the point. the question is what can we do to eliminate the evil or bad side of what's going on here which i agree is a problem? >> bob, thanks. amon to you as well and all of you guys. >> real quickly, talking about regulation and talking about measures in the marketplace and the most simplistic and proven throughout the ages is finances, the cost of business. raise the cost of doing business just like driving on a highway. you go too fast, you get a ticket. same thing in the marke
it is taxing or legislating against the stuff that has absolutely no benefit to anyone and so cancel voters is a good example. i think the point that ms. godfrey made about intent is the point. >> there is no intent to trade stocks at 4% of the entire trading volume and last week not a single trade was executed. >> i agree. >> one thing about this and i think our guests will confirm this, there are only a certain number of algorithms in the world. i think you agree most are...
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Oct 9, 2012
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they have to take the carpet tax up before the carbon tax. >> i gotcha. >> the carpet tax. >> animal crackers? >> no, no. >> duck soup? oh, man, is that terrible. >> part of the imf forecast, jim, bringing the numbers down for the global economy has been austerity does not work. >> it doesn't work. but that's paul crudeman who says it. i pet you paul crudeman believes in the 7.8 number, the big phony number. i bet you crudeman believes in it. how is that the focus of the discourse? i'm trying to make it alcoa. look, the imf is saying the obvious. the world bank is saying the obvious. if you continue to call for austerity you can't get growth. it's like, look, you want growth or want austerity. lyndon johnson, guns and butter equals inflation. if you just -- they are not doing guns or butter. if they are not doing margarine, they aren't doing machine guns. >> then you start again but they can't do that. >> we are devalued better than they are devalued. >> you would think we would be but the dollar is much stronger given anticipation of where rates are. >> true enough. stock specific s
they have to take the carpet tax up before the carbon tax. >> i gotcha. >> the carpet tax. >> animal crackers? >> no, no. >> duck soup? oh, man, is that terrible. >> part of the imf forecast, jim, bringing the numbers down for the global economy has been austerity does not work. >> it doesn't work. but that's paul crudeman who says it. i pet you paul crudeman believes in the 7.8 number, the big phony number. i bet you crudeman believes in it. how is...
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Oct 4, 2012
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he's just not honest on either the tax side or the revenue side. but, look. i used to work at boston consulting group, too. mitt is a great presenter, and he made a good presentation last night. >> and i assume you have thoughts on -- and i don't want to get too much into the style because that is all anyone's talking about today. but you must have some explanation for why the president appeared the way he did and why he chose to leave out some bullet points that he could have pulled out of his pocket. >> sure, look. i think the president focused on the facts and focused on his accomplishments and his plans for the future. and he was very factual in what he did. and as many people have said, when you're the attacker and you don't have a program of your own or a set of accomplishments of your own, it makes it a lot easier, and that's what mitt romney focused on. you know, i'm not the president's speech strategist, but i am a guy who focuses on facts. and i think fundamentally when you clear away what happened last night, the facts haven't changed, which is tha
he's just not honest on either the tax side or the revenue side. but, look. i used to work at boston consulting group, too. mitt is a great presenter, and he made a good presentation last night. >> and i assume you have thoughts on -- and i don't want to get too much into the style because that is all anyone's talking about today. but you must have some explanation for why the president appeared the way he did and why he chose to leave out some bullet points that he could have pulled out...
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Oct 2, 2012
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one of them a surplus tax from ecuador. they are not going to be able to do that, take care of that but i think they can work around that and then -- >> so you say go ahead. government ahead. >> you are with it? upgrading comstock resources and devon energy, noting notice belief that, "the u.s. natural gas market fundamentals already gone substantial structural "" -- do you like the call or not? >> i live in the center of marsellus gas. >> you do. >> i they are producing below the cost of goods sold. i don't like that i don't see a change in that . >> don't like two you do like one. i like you because you disagree. >>> next hour, remember the datson? we are going to look at the rebirth of the car on the cheap. but there's a catch. the new datson, next hour. accolade overdrive. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. chances are, you're not made of money,
one of them a surplus tax from ecuador. they are not going to be able to do that, take care of that but i think they can work around that and then -- >> so you say go ahead. government ahead. >> you are with it? upgrading comstock resources and devon energy, noting notice belief that, "the u.s. natural gas market fundamentals already gone substantial structural "" -- do you like the call or not? >> i live in the center of marsellus gas. >> you do. >>...
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Oct 3, 2012
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three other big economic issues they're going to be talking about, first of all, on taxes. mitt romney hasosed a 20% across the board rate cut for individuals, but he hasn't specified how he's going to pay for that without increasing the deficit or increasing the burden on middle and low-income workers. president obama will press him on that. by the same token, p obama says he wants to cut the corporate rate from 35 to 28. he hasn't specified how he's going to pay for that. on jobs, you can expect to hear mitt romney talk about on net since january 2009 when barack obama took office, hardly any jobs created. barack obama will talk about a time line beginning in early 2010. since then, 4 million private sector jobs have been created. finally, medicare, the big issue threatening go bankrupt the budget long term. mitt romney is proposing a substantial change that would include vouchers. he hasn't said how much they'd grow over time. president obama has not said whether or not he's going to propose the same kind of changes like raising the eligibility age for medicare that he t
three other big economic issues they're going to be talking about, first of all, on taxes. mitt romney hasosed a 20% across the board rate cut for individuals, but he hasn't specified how he's going to pay for that without increasing the deficit or increasing the burden on middle and low-income workers. president obama will press him on that. by the same token, p obama says he wants to cut the corporate rate from 35 to 28. he hasn't specified how he's going to pay for that. on jobs, you can...
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Oct 10, 2012
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the sector accounted for 14% of new york state's tax revenue in fiscal 2011. still the findings of that survey contrast with the results of a survey by efinancialqueries.com. hedge fund and asset management employees are among the most optimistic. bob, are they delusional? >> if they're going to do it on the basis of hedge fund performance, they probably are. of course, we're talking about the big investment banks here. i suppose that we'll have to see what the share of computation is to total revenues, which is i think the measure that tells you -- and the banks are trying to get that ratio down. the banks that succeed in getting the ratio down are better placed. so the pressure is on employee compensation, including the bonuses, in order to keep banks profitable. there isn't much lending growth. >> what about hedge fund, though? especially as talent migrates out of banks, perhaps towards these funds, that just haven't put in the numbers so far this year for the most part. >> no, they haven't. so if professionals in investment banks think that they can opt to
the sector accounted for 14% of new york state's tax revenue in fiscal 2011. still the findings of that survey contrast with the results of a survey by efinancialqueries.com. hedge fund and asset management employees are among the most optimistic. bob, are they delusional? >> if they're going to do it on the basis of hedge fund performance, they probably are. of course, we're talking about the big investment banks here. i suppose that we'll have to see what the share of computation is to...
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Oct 3, 2012
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on the issue of taxes, mitt romney has proposed a 20% across the both tax cut that he says will not increase the deficit and will not shift the burden to middle income taxpayers. yesterday in a radio interview he began to outline how he might pay for that, said he would limit tax deductions for families to $17,000. that is a step toward specificity, but barack obama can go after him on that. by the same token, romney can go after obama because obama's talked about reducing the corporate rate to 28%, but he hasn't specified how he'd pay for it. and then you have the issue of jobs. romney talks about the job record on net from the beginning of president obama's term. and if you do that, it's just about even. maybe a few jobs in the positive territory. but barack obama talks about what's happened since early 2010 since the turnaround started. they'll clash on that. on medicare, the big entitlement spending issue that threatens the bunch the long term. mitt romney's proposed with paul ryan an ambitious reformation of the program that would go to voucher, but he hasn't said what the level of the
on the issue of taxes, mitt romney has proposed a 20% across the both tax cut that he says will not increase the deficit and will not shift the burden to middle income taxpayers. yesterday in a radio interview he began to outline how he might pay for that, said he would limit tax deductions for families to $17,000. that is a step toward specificity, but barack obama can go after him on that. by the same token, romney can go after obama because obama's talked about reducing the corporate rate to...
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Oct 10, 2012
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the e-mail said that "if any new taxes are levied on me or my company as our current president plans, i will have no choice but to reduce the size of this company." he said he may even consider shutting down the company entirely meaning all 7,000 workers would lose their jobs. if obama wins, he says, "you can find me in the caribbean sitting on a beach with no employees to worry about." now what makes this e-mail even more explosive, simon, is its author, david siegel, the man who built the largest home in america. he and his wife, jackie, built versailles, that 90,000 square foot palace near orlando. the first story was told in the book "the high beta rich." siegel buckled under $1 billion in debt during the crisis, we to lay off 5,000 workers, versailles wanted a technical foreclosure proceedings. the house was put up for sale. siegel says he's back now, he's paid off his lenders and paid off versailles. the company is now the most profitable ever. he told me in the interview last night that he has "enough money to last the rest of my life and for my children." still siegel says he'
the e-mail said that "if any new taxes are levied on me or my company as our current president plans, i will have no choice but to reduce the size of this company." he said he may even consider shutting down the company entirely meaning all 7,000 workers would lose their jobs. if obama wins, he says, "you can find me in the caribbean sitting on a beach with no employees to worry about." now what makes this e-mail even more explosive, simon, is its author, david siegel, the...
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Oct 5, 2012
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the negatives are, whether it's the fiscal cliff, tax rate uncertainty that can be fixed easily. we do have an election coming up. but i think the unpinnings of our economy can do a lot more like canada without a whole lot of effort whether energy or retail in the end this number may be very strange but i still think canada gives me a bit of hope. back to you. >> the canadian number is one to watch. we'll see you in a few moments. we should mention the president is being introduced in fairfax, virginia. when he comes to the podium we'll take that live. in the meantime a quick break. we'll talk to the congresswoman trying to save you money on your insurance bill. congresswoman judy biggert will talk how americans are funding big bank bailouts after a quick break. [ male announcer ] at scottrade, weat over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm w
the negatives are, whether it's the fiscal cliff, tax rate uncertainty that can be fixed easily. we do have an election coming up. but i think the unpinnings of our economy can do a lot more like canada without a whole lot of effort whether energy or retail in the end this number may be very strange but i still think canada gives me a bit of hope. back to you. >> the canadian number is one to watch. we'll see you in a few moments. we should mention the president is being introduced in...